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Reinsurance broker Holborn puts Sandy industry loss estimate at $30 billion

The estimates of re/insurance industry losses from hurricane and superstorm Sandy continue to rise with the latest, and largest to date, loss estimate coming from independent reinsurance broker Holborn. So far the highest insured loss estimate has been from risk modeller RMS who said they believe Sandy will result in read the full article →

AIR increases hurricane Sandy insured loss estimate by over 70%

Risk modeller AIR Worldwide has published an update to their estimate of insured losses resulting from hurricane Sandy today and the numbers have jumped considerably. AIR's first estimate was published on the 30th October and in that update they gave a range of $7 billion to $15 billion of losses read the full article →

As Sandy loss estimates rise to $25B, what does this mean for cat bonds?

As is to be expected after a natural catastrophe event with the size and reach of hurricane and post-tropical storm Sandy, the estimates of insurance industry losses keep rising. This is typical of a complex, never seen in recent times, catastrophe event. For a great example of how loss estimates read the full article →

EQECAT doubles Sandy insured loss estimate to $10B – $20B

Risk modelling firm EQECAT have just issued an updated estimate of losses from hurricane Sandy now including post-landfall observations and analysis. EQECAT were the first modelling firm to come out with an early pre-landfall estimate of losses on Monday that pegged the insured loss at somewhere in the range of read the full article →

AIR Worldwide estimates Sandy insured loss at between $7B and $15B

We have another estimate of the insured losses caused by hurricane Sandy from risk modeller AIR Worldwide and it's higher than previous estimates which were largely pre-landfall. After analysing the impact of Sandy and with the additional insight gleaned from damage reports received so far, AIR Worldwide estimates that insured read the full article →

Sandy hits U.S. northeast with deadly blow, impacts from storm continue

Hurricane Sandy is now an extra-tropical storm, currently positioned in south east Pennsylvania and forecast to slowly move through that state towards the Great Lakes. Sandy still has winds of up to 65mph with some higher gusts, is still a large and damaging storm and still threatens extreme rains and read the full article →

EQECAT estimates Sandy insured loss $5B-$10B comments on cat bonds

Risk modelling firm EQECAT kindly gave us some thoughts on hurricane Sandy and how they see the potential for impact to catastrophe bonds. Tom Larsen, SVP and Product Architect, sent us some exclusive insight on Sandy which we include below. EQECAT have given an early estimate of $10 billion to read the full article →

Catastrophe bond market participants comment on Sandy

We've been busily canvassing opinions and thoughts on hurricane Sandy's potential impact from our contacts and friends in the marketplace today. Sandy is still threatening to be the worst northeast hurricane in memory, larger in size, with stronger winds and threatening a larger storm surge than last years hurricane Irene. read the full article →

Sandy threatens billion dollar losses, could threaten catastrophe bonds

Hurricane Sandy continues to bear down on the U.S. eastern seaboard with forecasters still predicting a convergence of three weather systems that could turn Sandy into a 'perfect storm' (or Frankenstorm if you prefer). Sandy is forecast to converge with a low pressure system moving in from the west and read the full article →

New York considering creating a catastrophe insurance pool

New York Superintendent of Insurance James Wrynn announced a number of measures aimed at keeping the cost of coastal insurance affordable for residents of New York. The proposals include standard deductibles for windstorms, reducing the number of non-renewals insurers may issue and creating a catastrophe pool to stabilise premiums. Wrynn says read the full article →